Multi-billion IMA scam: HC asks govt to reconsider attaching Roshan Baig's assets

News Network
April 18, 2021

Bengaluru, Apr 18: The High Court has directed the Karnataka government to reconsider the stand and take necessary decisions on attaching properties connected to former minister R Roshan Baig in connection with the multi-billion I Monetary Advisory (IMA) scam.

A division bench, headed by Chief Justice Abhay Shreeniwas Oka, also directed the government to consider paying the competent authority Rs 12.82 crore, spent by the IMA Group, to reconstruct a government school in Shivajinagar.

The bench noted that the government has completely ignored the powers vesting in it under the Karnataka Protection Interest of Depositors in Financial Establishments (KPID) Act 2004 on the question of attaching the properties of Baig. It said the government has only considered one aspect as to whether Baig had taken any financial benefits from the IMA group.

"If we accept the submission of the state that question of attachment of properties will be considered only after the submission of the final report of CBI, in every such case such a stand can be taken by the state government. It will defeat the very object of enactment in particular section 3 (2) of KPID Act," the bench said.

The court was informed that IMA had spent Rs 10.82 crore on construction and maintenance at V K Obaidullah Government School in Shivajinagar. The IMA group had entered into a Memorandum of Understanding (MoU) with the Block Education Officer. The competent authority, appointed under the KPID Act, had written to the Principal Secretary, Revenue Department, seeking payment of Rs 12.82 crore so that the money can be returned to the depositors. The bench asked the government to consider both attaching the school building and to pay Rs 12.82 crore to the competent authority.

“We are sure that the state government will seriously consider this issue, as prima facie, we are of the opinion that investors’ money deposited with IMA group cannot be converted to the construction of a school building of the state government,” the court said.

The Central Bureau of Investigation (CBI), meanwhile, submitted that it is going to challenge the recent High Court order quashing the supplementary charge sheets filed against IPS officer Hemanth Nimbalkar.

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News Network
January 2,2025

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Mangaluru, Jan 2: The coastal city of Mangaluru witnessed yet another alarming car fire incident last evening, marking the latest in a series of similar mishaps in recent months. Fortunately, quick action by the driver and passengers prevented any injuries.

On January 1, a moving Volkswagen car caught fire on the road leading to the helipad at Maryhill. The passengers noticed flames emanating from the front of the vehicle. Acting promptly, the driver pulled over, and all four occupants exited safely.

Local residents attempted to douse the flames using water, and personnel from the Kadri fire service soon arrived to manage the situation. Despite their efforts, the car's engine was completely destroyed.

This incident adds to a growing list of car fire cases reported in Mangaluru recently:

December 16, 2024: A Hyundai car caught fire near City Centre Mall. The driver narrowly escaped.

November 15, 2024: A car was gutted within minutes near Kadri police station, though the driver escaped unharmed.

November 10, 2024: A Maruti 800 waiting at a petrol station caught fire and was completely burnt.

September 28, 2024: A parked BMW at Adyar was destroyed in a fire.

September 5, 2024: Another BMW caught fire near NITK.

In all these incidents, timely evacuation ensured that no injuries were reported. However, the frequency of such cases raises serious concerns about vehicle safety and the need for preventive measures.

Authorities and vehicle manufacturers must investigate the underlying causes of these fires to prevent future occurrences. Public awareness about vehicle maintenance and safety measures is also critical to avert such mishaps.

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News Network
January 9,2025

Mangaluru: In a significant development, Mescom has proposed a phased electricity tariff hike starting with Rs 0.70 per unit for the fiscal year 2025-26. The proposal has been submitted to the Karnataka Electricity Regulatory Commission (KERC) for approval, signaling a potential increase in electricity costs for consumers.

Mescom emphasized that the current tariff structure is insufficient to meet operational expenses and manage revenue effectively. To address this, the company has invited public objections to the proposed hike.

Currently, the electricity supply cost is Rs 9.23 per unit, while the consumer tariff stands at Rs 8.53 per unit, leading to a shortfall of Rs 0.70 per unit. For the financial year 2023-24, Mescom reported revenue of Rs 5,924.73 crore against an expenditure of Rs 6,310.39 crore, resulting in a deficit of Rs 367.66 crore. For the 2025-26 fiscal year, projected revenue is Rs 5,850.81 crore, with an actual requirement of Rs 5,961.63 crore, creating a deficit of Rs 110.82 crore.

In a first, Mescom has submitted a multi-year tariff revision proposal to KERC. The plan outlines a hike of Rs 0.70 per unit for 2025-26, followed by Rs 0.37 per unit for 2026-27 and Rs 0.54 per unit for 2027-28.

"An increase in electricity tariff is inevitable," stated Jayakumar R, Managing Director of Mescom. "Mescom has submitted a proposal in this regard to KERC."

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News Network
January 9,2025

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The United Nations Children’s Fund (UNICEF) has reported that at least 74 children were killed in Israel’s relentless violence in the Gaza Strip during the first week of 2025, marking a grim start to the New Year for children in the besieged territory.

In a recent report released on Wednesday, UNICEF said that the fatalities occurred within just eight days, emphasizing that the lack of adequate shelter, compounded by winter weather, poses severe risks to the children in Gaza.

“For the children of Gaza, the New Year has brought more death & suffering with at least 74 children reportedly killed,” Executive Director of UNICEF Catherine Russell said, calling for an immediate ceasefire to end the violence.

She expressed deep concern over the number of children who have either been killed or have lost loved ones during the tragic beginning of the year.

Numerous fatalities have occurred during mass casualty events, including nighttime assaults in Gaza City, Khan Yunis, and al-Mawasi, which has been designated a "safe zone." The most recent attack claimed the lives of five children in al-Mawasi on Tuesday, according to UNICEF.

The situation is dire, with reports indicating that eight infants and newborns have died from hypothermia since December 26, highlighting the severe risk facing young children who are unable to regulate their body temperature amid the harsh conditions as Israel weaponizes cold against children in the Gaza strip.

“UNICEF has long warned that inadequate shelter, lack of access to nutrition and healthcare, the dire sanitary situation, and now the winter weather put the lives of all children in Gaza at risk. Newborns and children with medical conditions are especially vulnerable,” Russell emphasized.

The humanitarian crisis in Gaza has reached alarming levels. The number of aid trucks entering the region remains grossly inadequate to meet the basic needs of families, while civil order has largely unraveled, leading to the looting of humanitarian supplies.

According to UN reports, over a million children are currently living in makeshift tents, with almost all of the 2.3 million population displaced several times over the last 15 months.

Moreover, the few operational hospitals are overwhelmed, and the destruction of civilian infrastructure has severely hampered access to essential services, including food, clean water, sanitation, and healthcare.

Kamal Adwan Hospital, previously the only functioning medical facility in northern Gaza with a pediatric unit, has ceased operations following a raid last month, exacerbating the already critical healthcare situation.

A recent report from the Palestinian Central Bureau of Statistics noted a 6% decline in Gaza's population in 2024, indicating that Israeli forces are intentionally targeting specific demographic groups, such as children and youth, resulting in a significant “distortion of the population.”

Since the onset of the genocide, Israel has killed 45,936 Palestinians, including over 17,600 children, as reported by the Health Ministry in Gaza, indicating a tragic loss of one child approximately every hour.

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